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20130105
20130105
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, possibly right before that with tim geithner's private calculations. >> how real is the concern among congressional democrats that as you crawl from crisis to crisis that it prevents the administration from advancing with long-range policies with regard to imgramigration or gun control. >> i don't think it should. the administration has enormous powers under existing law. for instance, they could institute large parts of the cap and trade bill which passed the house through regulation, through rule making and the president actually did institute a large part of what would have been our bill on immigration, the dream act through administrative action. the president has a lot of power and he should use it to solve the country's problems. >> how would you characterize your last stint in congress. how would you characterize that compared to this upcoming stint? >> well, we did a lot of good for a lot of people, particularly in our district and i think they'll be able to do it again. a lot of the best things that we did in the district had nothing to do with votes on the floor and the job
the right to print money. however the treasury and tim geithner can mint a coin. they can walk over to the federal reserve, deposit in the federal reserve and then all of our debts would be erased. any economics 101 would say that is not the way to run the government. you would have crazy inflation in this case is what is crazier than the 3 trillion-dollar coin is the debt ceiling. congress has always raised the debt ceiling. only how have they fought the white house. well, it's for debt that the congress has incurred. it has to go up. the idea that this 3 trillion-dollar county could get them back the debt ceiling on a technicality is something that makes sense. >> cenk: so it's an absurd idea. understand first of all if they're not going to put it into circulation. if they put it in circulation then they would have inflation. but if they're not going to put it in circulation then what is. this all about? i guess it's the technicality to say technically we still have money. but if you had to actually use it. >> it means that they don't have to issue t-bills or auction off treasury
answer, because you have seen your name floated out there as a possible successor to tim geithner. >> and the reason i say that is look, i -- i'm 67 years old. i have been gone from home for over a dozen years, doing various public service things. and i have come home, i have got nine grandchildren under seven, and i really want to stay home. so i don't want a full-time job either in the public or private sector. >> one final question, how disappointed were you that the president rejected the simpson-bowles recommendations? >> well, look, i was disappointed at the time. but i came to understand was that his goal was to use it as a framework for his discussions that he had with speaker boehner back in gosh, almost two years ago now. in his first effort to get a grand bargain. he felt that was the best way to be successful. if he had been right, he would have proven to be a political genius. unifor unfortunately, he was not. they didn't get a deal one and i was very disappointed. >> yeah, i think that was an historic moment to get that grand bargain. i know you worked hard on it wit
they want to make will be on the debt ceiling. and ironically, i think if as tim geithner did, the secretary of the treasury, float this idea of abolishing the law that requires a congressional vote, that sort of the ultimate threat that the president has. whether he can get that through or not. but that's the ultimate nightmare for the tea party. >> quickly both of you gentlemen, i want your take on the filibuster reform that is pending. there is a lot of commentary being given in the senate about what should be done. would this make it a toxic atmosphere, eugene, if harry reid goes for the full ball of wax and really smokes them out the way they have been filibustering and changes the rule? what does that do to debt ceiling negotiations, if anything? >> well, i think it probably exacerbates the tensions and the bad feelings in the senate, and where the feelings are not that bad right now. i don't know that he will try to push forward on that. >> what than, howard? >> i think he might try it. i think he is being pushed to try it by liberal constituencies who might see that as a payback for
future. i'll ask the co-chair for the campaign to fix the debt what lies ahead. >>> and report that tim geithner will leave before that battle has many wondering how that could affect the economy. >>> if you think hillary's departure of the secretary of state will leave the country without a clinton on center stage, think again. >>> and "office politics." i talk to al roker from everything from the fiscal cliff to the first one-on-one he scored with the president after his short inauguration. good morning, welcome to "weekends with alex witt." we have front page politics. with the fiscal cliff deal behind us, president obama is turning his attention to the next battle in today's weekly address, the debt ceiling. >> one thing i will not compromise over is whether or not congress should pay the tab for a bill they already wracked up. if congress refuses to give the united states the ability to pay its bill on time, consequences for the entire global economy could be catastrophic. >> meanwhile, during a closed door meeting on friday, john boehner told members of the gop conference he plans
, the mask is off the white house. there's no pretense that they have an interest in spending and when tim geithner's first offer in the negotiations was $1.6 trillion in new revenue, raise the debt ceiling with impunity and have more stimulus spending, that unbridled foolishness that has jarred the gop and the house. so those sort of shutdown questions become easier to coalescing. >> so it's a yes? it's on the table, is that right? >> well, as you and i have talked before, my home state is illinois, which is an example of what not to do. they chose revenues at a state level, didn't deal with the underlying spending drivers and what happened? higher than average unemployment, more per capita debt than any other state in the union almost and been downgraded twice. $7 billion in unpaid bills after the revenues come in. so i'm sensing just in talking to a lot of colleagues today and over the past couple of days a higher level of interest in going much further than they have ever gone before. >> last one, are all revenues off the table as far as you and the house leadership is concerned? >> ye
night live character making fun of tim geithner. it was funny. he told me how outrageous this was and how the secretary himself was very upset when he heard about this, but i learned he has no sense of humor. [laughter] but it was bad. so we decided we'd meet off line and have a drink at one of those terrible washington restaurants to try to just clear the air. and we sort of had our chitchat, and i talked about how our daughter was about to be born, and then the conversation sort of turned. and he asked me what i wanted to do next, what my plans were after in this temporary job i had. i explained i wasn't really sure. i said, well, maybe a job on the street, meaning wall street, i said i wasn't really sure. and he said i was doing myself real harm. he explained to me that my tone of my criticisms of wall street as well as the obama administration was going to really harm my ability to get a job after i left this position. and, you know, i explained to herb that i wasn't terribly concerned about a job, i had a focus on this, and he pressed. he said what about something in
tim geithner is going to leave possibly by the end of the month, which means ahead of all of the debt ceiling talks. do you think that would hurt the economy if he's not there to be the one to help sort of, i don't know, keep everything on balance? >> i do worry a little bit about this. there's no clear person who would have been named if he's leaving at the end of the month. the name tossed around most commonly is jack lew. but he's not a clear candidate yet at least. secretary geithner has been very instrumental in talking to the congress for the last couple years about the budget and about the debt ceiling. he was very involved in 2011. he's obviously been very involved the last couple of months. if he leaves, i think we could -- it really depends who takes over for him. but i think we're -- i think we're looking at a lot of big issues to face before march and so it's really going to come down to who that person is that takes over. >> yeah, certainly. have to talk a little bit of football because we always talk about the commercials and the super bowl and how much money they bring
replaces treasury secretary geithner. i think that will have a big affect on stock markets and on the country's credit rating. i think it will have less of an effect on jobs initially. >> interesting. that much on tim git neareithne departure. the rich are getting richer. the richest added $241 billion to their value. where are they finding their fortunes? >> great question. three main places where we're seeing the rich getting richer. first in emerging markets. a lot of very rapid wealth creation happening. i think that's adding a lot more billionaires to these lists. the second is the fact that real estate values, especially state side, are starting toic tick up. a lot of billionaires have a lot of real estate. and all of the major stock market indexes have been up in the past year. a trend we've been seeing and hearing about. forbes has been tracking this closely for the past year. we'll see it continue next year. we're actually getting ready to release our billionaires list in march. we'll see some newcomers this is a story that continues. >> for sure. how about the ara
Search Results 0 to 8 of about 9